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Alaska2026Passed Legislature

SB259

Optional Limits on Property Tax Assessment Increases

Last scannedSep 14, 2026, 12:32 AM

In one sentence

This bill allows Alaska municipalities to choose whether to limit how much a home's tax value can rise each year.

What it does

  • Allows municipalities to pass an ordinance that limits yearly increases in property assessed values by between three percent and ten percent per year.
  • Requires assessors to update home values immediately when ownership changes or improvements are made, setting the value based on open market price.
  • Mandates that all properties be revalued at full market price every 10 years regardless of yearly limits.
  • States that under this rule, the limited assessed value counts as the true value for tax purposes.

Who it affects

  • Alaska municipalities considering property tax rules
  • Property owners who live in their homes year-round
  • Local assessors responsible for valuing real estate

Limits and unknowns

  • Cities are not required to adopt this limit; it is optional for each municipality.
  • The text only applies to homes used as a permanent place of abode, excluding other property types.

Plain language

Terms to know

Assessed value
The dollar amount assigned to a property that is used to calculate taxes.
Ordinance
A local law passed by a city or town government.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

PROPERTY TAX ASSESSMENT INCREASES An Act relating to an optional municipal limit to increases of the full and true value of property owned and occupied as a permanent place of abode by a resident.

Official activity

Bill history

  1. (S) Heard & HeldText
  2. (S) FINANCE at 09:00 AM SENATE FINANCE 532Text
  3. (S) REFERRED TO FINANCE2387
  4. (S) FIN REFERRAL ADDED AFTER L&C2387
  5. (S) FN2: INDETERMINATE(CED)2387
  6. (S) AM: DUNBAR, YUNDT2387
  7. (S) NR: MERRICK, GRAY-JACKSON2387
  8. (S) DP: BJORKMAN2387
  9. (S) L&C RPT CS 1DP 2NR 2AM NEW TITLE2387
  10. (S) Moved CSSB 259(L&C) Out of CommitteeText
  11. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  12. (S) Heard & HeldText
  13. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  14. (S) Heard & Held -- Please Note Time Change --Text
  15. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  16. (S) FN1: ZERO(CED)2218
  17. (S) DP: DUNBAR2218
  18. (S) NR: MERRICK, GRAY-JACKSON, YUNDT2218
  19. (S) CRA RPT CS 3NR 1DP NEW TITLE2218
  20. (S) L&C WAIVED PUBLIC HEARING NOTICE,RULE 232199